![]() ![]() However, a registered tax practitioner can help ensure you comply with SARS regulations and offer advice about how to reduce your tax bill by making full use of the tax deductions to which you’re entitled. You can do this yourself without needing to appoint an accountant. You will submit a form called the ITR12 each year, and provisional tax submissions twice per year. If you run a sole proprietor or partnership business, it will not be registered with the CIPC. Some limited liability companies are required to be audited. Your declared profit or loss for the year will determine how much tax you will need to pay, or if you will get a refund from SARS. You, or your accountant, will use the annual ITR14 declaration on the SARS eFiling system to set out your income and expenses. VAT 201 FORM DOWNLOAD SARS PROFESSIONALUnless you’re an accountant, it’s wise to seek help from a professional to understand your tax obligations. Three TIPS to prepare your business for Year-End. For more information on how our team can assist you with your submissions, kindly contact us on or +27 (0). Putting together your organisation’s WSP and ATR documents can be challenging and labour-intensive. The report reflects the education, training and development that were implemented in the previous year. The Annual Training Report (ATR) will show the progress of your training in line with your submitted Workplace Skills Plan and accompanies the WSP. What is the ATR – Annual Training Report? Unsuccessful tender bids as tenders may be subject to rigorous pre-qualifying criteria such as submission of a WSP. Forfeiture of Mandatory Grant (20% of your Skills Development levies spent to SARS) and Discretionary Grants (potential refunding of learnerships, internships and other training interventions).Zero points will be earned for the Skills Development element on the B-BBEE scorecard.What are the consequences of failing to submit a Workplace Skills plan? It encourages companies to have a well-rounded approach to skills development and training.The SETA’s are able to compile their Sector Skills Plans and allow companies access to the various SETA grants.It will highlight the employer’s intention to address these gaps and the initiatives taken.It will highlight the skills gaps in your company.What are the benefits of submitting a Workplace Skills Plan? A well-thought-out WSP will ensure that the skills that an organisation lacks are addressed. Compiling a WSP ensures that training is not only reactive to needs that emerge but also speaks to the overall organisational strategy, as well as encourages a holistic and sustainable approach to skills development. ![]() The purpose of workplace skills planning is to outline how organisations will address their training and skills development requirements. What is the purpose of workplace skills planning? ![]()
1 Comment
2/21/2023 01:26:36 am
Thanks for sharing such a informative blog! Your professional looking invoice is ready in an instant. And you can drop in your business logo to give it the personal touch.
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